Negative impacts of introduction of money economy
Answer Text: Negative impacts of introduction of money economy-The closely knit traditional social structures were destroyed because of people moving from rural to urban areas in search of employment . Kinship ties were weakened.-The production of traditional subsistence foodcrops declined and were replaced by cash crops. This led to lack of food security and starvation.-Labour became a commodity to be sold to the highest bidder and it ceased to be done for self-fulfilment and for the common welfare.-Arable land was alienated from Africans who were initially reduced to squatters,then wage-labourers in their own land.-Individual ownership of land was emphasized which could be sold at will.-The livelihood of indigenous people who lived in forests was destroyed.-The destruction of the natural environment to create room for building projects, roads and urban centres became rampant.-An economy motivated by profit and without regard for the poor was created.-Social evils such as prostitution, theft, bribery, corruption and other crimes increased because of demand for money.-There was exploitation of the poor by the rich through poor wages and overcharging prices on goods.-Bride-wealth became commercialized.-The gap between the rich and the poor widened. Available jobs and investment opportunities are for those with education and money.-Rural-urban migration increased, with rural areas left with less educated and weaker people who are not economically active.-Individualism among Africans was created. Communal way of life amongst the people was eroded.
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